VLCC earnings have surged to nearly $160,000 per day with strong Chinese charter demand continuing to drive up freight rates in “panic” trade.
On the Baltic Exchange, spot earnings on the Middle East Gulf-China increased by $34,558 from the day-ago level to $158,030 per day as of Thursday afternoon, not far from the all-time high.
Day Harvest, Chinese state major Sinochem’s charter arm, has reportedly put Euronav’s 297,400-dwt Heron (built 2007) under provisional booking at Worldscale 187.5
